Two U.S. Coal Miners See Growth Amid Sector's Gloom
U.S. electric utilities are expected to shut hundreds more of their coal-fired power generators in the coming years, extending a long trend away from coal and toward natural gas that has cast a pall over the mining industry. But not every U.S. coal company sees a bleak future. Ramaco Resources, which produces coal for steel mills, and Consol Energy…
Awaiting Trump's coal comeback, miners reject retraining
When Mike Sylvester entered a career training center earlier this year in southwestern Pennsylvania, he found more than one hundred federally funded courses covering everything from computer programming to nursing. He settled instead on something familiar: a coal mining course. "I think there is a coal comeback,” said the 33-year-old son of a miner.
Consol, Noble Energy to Dissolve Marcellus JV
Coal and natural gas producer Consol Energy Inc and Noble Energy Inc said on Monday they would dissolve their 50-50 Marcellus shale joint venture, resulting in a payment of about $205 million to Consol on closing. The joint venture was formed in 2011 to explore and develop about 669,000 acres in the Marcellus Shale in Pennsylvania and West Virginia.
Consol to Sell Coal Assets for $420 mln
Coal and natural gas producer Consol Energy Inc said it agreed to sell some of its coal assets for about $420 million and would suspend its quarterly dividend once the sale closes. Pittsburgh-based Consol, which has shifted its focus to natural gas from coal, said it would sell its Buchanan Mine in southwestern Virginia and some other metallurgical coal reserves to Coronado IV LLC.
Consol Energy Nominates Southeastern's CEO to Board
Consol Energy Inc said on Monday it nominated Bernard Lanigan, the chief executive of Southeastern Asset Management Inc, the coal and natural gas producer's largest shareholder, for election to its board. The nomination came after Southeastern Asset Management said in July it was seeking a possible "monetization" of Consol's gas unit, including a spinoff or a sale.
Utica Well Employs New LD Technology
CARBO Ceramics announced the successful use of KRYPTOSPHERE LD, its ultra-conductive, low-density ceramic proppant technology, in the Utica for CONSOL Energy. This is the first well to utilize KRYPTOSPHERE LD and joins KRYPTOSPHERE HD as another product in the KRYPTOSPHERE ultra-conductive proppant technology platform to maximize hydrocarbon flow for the life of the well.
Consol Energy Slashes oil & gas CapEx
Oil and gas producer Consol Energy Inc cut its 2016 capital expenditure plans for its oil and gas division by 41 percent due to weak commodity prices. The company cut its oil and gas capital expenditure to $205-$325 million from $400-$500 million. Reporting by Anet Josline Pinto
Consol Energy's Coal IPO Deferred
Coal and natural gas producer Consol Energy Inc said it was delaying a planned initial public offering of a unit holding steel-making coal assets due to weak prices. The company, which has been looking to lower its exposure to weak coal prices, also reported a much bigger quarterly loss, hurt by an $829 million impairment charge on its oil and gas assets.
For US Coal, Market Realities Grow Increasingly Harsh
Struggling U.S. coal companies face debt hurdles, complications from reclamation and pension obligation, pressure from hedge funds; the Institute for Energy Economics and Financing Analysis (IEEFA) delves into some of the many pressing difficulties confronting U.S. coal producers. As the U.S. coal industry continues its tail spin, the cumulative impacts of its many liabilities—reclamation costs…
Consol Profit Plunges on Rising OpEx
Coal and natural gas producer Consol Energy Inc reported a nearly 50 percent fall in quarterly profit as exploration and production costs shot up. Net income from continuing operations fell to $73.7 million, or 32 cents per share, in the quarter ended Dec. 31, from $146.6 million, or 64 cents per share, a year earlier. Revenue rose 13 percent to $935.7 million.
50-yr Evolution of SOLARBAN Glass by PPG
With its gothic spires and subtly reflective glass facade, PPG Place has been a signature monument on the Pittsburgh skyline since it was erected in 1984. It was also the first of several landmark structures in the city to feature SOLARBAN® glass by PPG Industries (NYSE:PPG), a trailblazing line of energy-efficient architectural glass products that is being commemorated with a year-long 50th anniversary celebration in 2014.
Few Funds Ready To Follow Stanford's Lead On Fossil Fuel Stocks
Few if any of the big U.S. pension or college endowment funds appear ready to follow in Stanford University's footsteps and pull their money out of shares of coal miners or other fossil fuel producers. Officials from the pension systems for California's public employees and schoolteachers and New York public employees, the three largest U.S. retirement funds…
Consol Ramps Up Gas Output
Consol Energy Inc plans to ramp up its natural gas output in the second quarter, after a 59 percent jump in sales of oil and gas helped the company report a better-than-expected quarterly profit. The coal and gas producer's shares rose as much as 5 percent to a more than two-year high of $44.00 in early trading. Consol, which plans to become an exploration and production company with a coal subsidiary…
ARGUS Enviable Technology, Unlimited Potential
System is designed to universally interface with a vessel’s existing navigation equipment and autonomously deliver water depths seen by the vessel to a central server. Almost four years and 100 million soundings later, the concept is a reality. Almost two years after we first reported on an innovative, depth sounding recorder device that made wide swaths of data available to perhaps anyone who wants it…
ARGUS: Enviable Technology, Unlimited Potential
System is designed to universally interface with a vessel’s existing navigation equipment and autonomously deliver water depths seen by the vessel to a central server. Almost four years and 100 million soundings later, the concept is a reality. Almost two years after we first reported (December 2011 edition of MarineNews) on an innovative, depth sounding…
